Cash register nominal codes and settings

Nominal codes

When you install your Sage software the following new nominal codes are created by default:

Settings

1. Click Settings and click  Bank Defaults.
2. The following Cash register settings are available:
   
   

   Bank A/C	The cash register bank account, 1235 by default. Once you post transactions to this bank account you can't change this setting. Bank Reconciliation is also disabled for this account and can't be amended.
   Sales nominal	The default nominal code for till sales, initially set to 4000.
   Tax code	The default tax code for till takings is T1. If required, you can change this.
   Discrepancies	The nominal code used when adjusting for discrepancies, 8206 by default.
   Takings are VAT inclusive	Select this check box if you want to use VAT inclusive gross values, for example, if your till takings aren't separated into net and VAT amounts.

3. To save any changes you've made click OK.

These are the default settings when recording till takings. You can amend the sales nominal and tax code when you enter your till takings.

Record till takings

For the purpose of this article, till takings refers specifically to the value of takings recorded in your till at the end of the day, normally on a printed report, not the physical cash and coinage held in the till.

1. Click Bank accounts and click Cash register.
2. Complete the Cash Register window as follows:
   
   

   Date	Enter the date for the till takings.
   Ref	If required, enter an appropriate reference.
   N/C	From the drop-down list, choose the nominal code for the sales. Nominal code 4000 is selected by default.
   Department	If required, from the drop-down list, choose the correct department for the till takings. This feature isn't available in Sage Instant Accounts.
   Method	From the drop-down list, choose the appropriate method of payment for the till takings. Choose from Cash, Cheque, Card or Bank Transfer.
   Details	Enter any relevant details for the till takings.
   Net*	Enter the net value of the takings.
   T/C*	From the drop-down list, choose the appropriate tax code for the till takings.
   Tax*	This column displays the VAT value based on the net value and the tax code applied.
   Gross*	Enter the gross value of the till takings.

   
   *A combination of these columns appear depending upon whether you've selected the Takings are VAT inclusive check box in Settings then Bank Defaults.
   
   
3. If there's a discrepancy between the till takings and the value of cash and coinage in the till then this should be recorded using the Discrepancy option. To do this, click the Discrepancy button and enter the requested information as follows:
   
   

   Drop-down list	If there's more cash than expected, choose There's an overpayment of. If there's less cash than expected, choose There's a shortfall of.
   Amount	Enter the value of the discrepancy.
   Reference	Enter an appropriate reference.
   Date	Enter the date of the discrepancy.

4. To confirm your entry click OK.
   
   The Cash Register window updates with the discrepancy value which is deducted from, or added to, the Actual takings value as appropriate.
5. To save the transaction details click Save then click Close.
   
   The Cash Register window closes and the transaction details are posted to the audit trail. The cash values are recorded as Bank Receipt (BR) transactions whilst any discrepancies are journalled between the Cash Register nominal code and the Cash Register Discrepancies nominal code.

Record payments

Occasionally you may need to make a payment from your till, this could be a one off purchase or a customer refund. You can post a bank payment to record this.

1. Click Bank accounts and from the  Payments drop-down, click Bank Payments.
2. Complete the Bank Payments window as follows:
   
   

   Bank	Date	Ref	N/C	Details	Net	T/C	Tax
   Enter the cash register nominal code	Date payment made	Reference	Enter the relevant nominal code	Enter the details	As original payment	As original payment	As original payment

3. Click Save and click Close.
   
   

You've now successfully posted a bank payment from the cash register account.

Bank payments appear as negative values when you deposit cash.

Record the banking of till takings

1. Click Bank accounts and click Deposit cash.
2. Complete the Deposit Cash window as follows:
   
   

   Account to	From the drop-down list, choose the bank account where the takings have been deposited.
   Date	Enter the date that the takings were banked.
   Description	Enter an appropriate description for the deposit.
   Reference	Enter an appropriate reference for the deposit.
   Cash register transactions	Select the check boxes next to the transactions that have been banked in this deposit.

3. If you want to retain an element of the takings to provide a float in the till, click the Float adjustment button and complete the Float Adjustment window as follows:
   
   
   • From the drop-down list, choose to increase or decrease the till float
   • In the amount box, enter the value that you want to adjust the float by
   • To save your float adjustment click OK
     
     
4. Click Save and click Close.
   
   

You've now successfully recorded the banking of your till takings.

Account for bounced cheques

If you deposit a cheque, which is subsequently returned by the bank, the steps you take to record it depend on whether the payment will be reissued.

If the customer reissues the payment

1. Click Bank then click Payments then click Bank payment.
2. Complete the Bank Payments window as follows:
   
   

   Bank	Date	Ref	N/C	Details	Net	T/C	Tax
   Enter the Bank nominal code	Date deposit made	Reference	8206	Cheque returned	As original deposit	As original deposit	As original deposit

3. Click Save then click Close.

1. Click Bank accounts, click Receipts then click Bank receipt.
2. Complete the Bank Receipts window as follows:
   
   

   Bank	Date	Ref	N/C	Details	Net	T/C	Tax
   Enter the Bank nominal code	Date new cheque received	Reference	8206	Replacement cheque	Net value	Tax code	Tax value

3. Click Save then click Close.
   
   

If the payment isn't reissued

1. Click Bank, click Payments then click Bank payment.
2. Complete the Bank Payments window as follows:
   
   

   Bank	Date	Ref	N/C	Details	Net	T/C	Tax
   Enter the Bank nominal code	Date deposit made	Reference	8206	Cheque returned	As original deposit	As original deposit	As original deposit

3. Click Save and click Close.

If you've established that the payment isn't going to be made, journal the amount to the Bad Debt Write Off nominal code, 8100 by default as follows:

1. Click Nominal codes and click Journal entry.
2. Complete the Nominal Ledger Journals window as follows:
   
   

   N/C	Name	Details	T/C	Debit	Credit
   8206	Cash Register Discrepancies	Write off	T9		Amount of write off
   8100	Bad Debt Write Off	Write off	T9	Amount of write off

3. Click Save, and click Close.
   
   

You've now successfully recorded the bounced cheque and journalled the balance to the Bad Debt Write Off nominal code.

 [BCB:99:Limitless - 50 Accounts - Bank:ECB]